Rajnandini Fashion IPO
Trading • ₹18.21 Cr
Medium risk because:
- 5 material risk factors disclosed in DRHP
- High customer concentration flagged in the DRHP
- SME listing with thinner post-listing liquidity
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹63
Lot Size
2000 shares
Issue Size
₹18.21 Cr
Open
26 May 2026
Close
29 May 2026
Subscription
189×
IPO Schedule
| Issue Open Date | 26 May 2026 |
| Issue Close Date | 29 May 2026 |
| Listing Date | 02 Jun 2026 |
About Rajnandini Fashion
Rajnandini Fashion India is engaged in the design, manufacturing, and sale of women’s apparel across ethnic wear and casual wear categories through online and offline channels. Its product portfolio includes unstitched dress materials, sarees, kurtis, kurta sets, tops, tunics, maternity gowns, dresses, co-ord sets, and plus-size apparel made using fabrics such as cotton, rayon, silk, and poly-cotton. The company operates through both business-to-consumer (B2C) and business-to-business (B2B) segments. Under the B2C segment, products are sold through its own website and e-commerce platforms such as Amazon, Flipkart, Myntra, Ajio, LimeRoad, and Nykaa. In the B2B segment, the company supplies fabrics and ready-to-wear garments to wholesalers, retailers, and garment processors. Rajnandini Fashion India operates manufacturing facilities at Surat and Jaipur, with in-house apparel production supported by sewing, cutting, stitching, quality checking, packaging, and dispatch operations. Use of proceeds: The net proceeds from the fresh issue will be utilised for the following purposes: Capital expenditure for setting up a new manufacturing facility — Rs 1.41 crore Repayment of a portion of certain borrowings availed by the company — Rs 5.50 crore Working capital requirements — Rs 9 crore General corporate purposes
Company Details
Founders / Promoters
Mr Vikesh Lunawat
Founded
2010
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Investment Analysis
Rajnandini Fashion — IPOFins Verdict
QuantitativeDriven by QIB demand at 122.0x and moderate disclosed risk (6/10), Rajnandini Fashion listed at a premium of 0.0% to its issue price. SME listings are also thinner and more volatile after listing. The picture is mixed — treat this as one input alongside the DRHP, valuation, and your own risk appetite.
- The company offers a wide range of women’s apparel across ethnic, casual, and fusion wear categories. Its portfolio includes kurtas, sarees, tunics, maternity wear, dresses, co-ord sets, Patiala suits
- The company has established a presence across multiple online sales channels, including Amazon, Flipkart, Myntra, AJIO, Nykaa, LimeRoad, and its own website. It has also received recognition from e-co
- The company claims to operate integrated manufacturing facilities at Surat and Jaipur covering design, pattern making, embroidery, stitching, finishing, branding, and packaging. These facilities are e
- The company claims to have developed both B2C and B2B operations. While the B2C segment focuses on online retail sales, the B2B segment includes supplying apparel and fabrics to wholesalers, retailers
- The company is ISO 9001:2015 certified for its quality management system at its Surat manufacturing unit.
Score breakdown — what drove this verdict
Moderate risk from DRHP → score -0.4
Institutional subscription → score +2.0
Strong retail interest → score +0.5
Actual listing outcome → score −0.5
SME IPOs have lower liquidity after listing → score −0.5
Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →
IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.
Listing Performance
Issue Price
₹63
Listing Price
₹63
Listing Gain/Loss
+0.00%
Listing Date
02 Jun 2026
Price Since Listing
Returns are measured against the ₹63 issue price.
Listing
₹63
+0.0%
1 Week
₹51.25
-18.7%
1 Month
₹39.24
-37.7%
Current
₹34.03
-46.0%
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Trade Rajnandini Fashion on the secondary market
FAQ
What is the price band of Rajnandini Fashion IPO?
The price band is ₹63 per share with a lot size of 2000 shares. Minimum investment: ₹1,26,000.
What does Rajnandini Fashion do?
Rajnandini Fashion India is engaged in the design, manufacturing, and sale of women’s apparel across ethnic wear and casual wear categories through online and offline channels. Its product portfolio includes unstitched dress materials, sarees, kurtis, kurta sets, tops, tunics, maternity gowns, dresses, co-ord sets, and plus-size apparel made using fabrics such as cotton, rayon, silk, and poly-cotton. The company operates through both business-to-consumer (B2C) and business-to-business (B2B) segments. Under the B2C segment, products are sold through its own website and e-commerce platforms such as Amazon, Flipkart, Myntra, Ajio, LimeRoad, and Nykaa. In the B2B segment, the company supplies fabrics and ready-to-wear garments to wholesalers, retailers, and garment processors. Rajnandini Fashion India operates manufacturing facilities at Surat and Jaipur, with in-house apparel production supported by sewing, cutting, stitching, quality checking, packaging, and dispatch operations. Use of proceeds: The net proceeds from the fresh issue will be utilised for the following purposes: Capital expenditure for setting up a new manufacturing facility — Rs 1.41 crore Repayment of a portion of certain borrowings availed by the company — Rs 5.50 crore Working capital requirements — Rs 9 crore General corporate purposes
Should I apply for Rajnandini Fashion IPO?
Rajnandini Fashion listed at ₹63 (+0.0% premium to the ₹63 issue price) after 189.5x subscription. IPOFins Score 6/10: Driven by QIB demand at 122.0x and moderate disclosed risk (6/10), Rajnandini Fashion listed at a premium of 0.0% to its issue price. SME listings are also thinner and more volatile after listing. The picture is mixed — treat this as one input alongside the DRHP, valuation, and your own risk appetite.
Who founded Rajnandini Fashion?
Rajnandini Fashion was founded by Mr Vikesh Lunawat in 2010.